Actelis Networks has recently been awarded a significant contract to modernize the intelligent transportation system (ITS) infrastructure in Orange County, California. This project, facilitated through their partner Western Systems, aims to improve traffic management in a county that is home to over 3 million residents, making it the third most populous in the state. This achievement adds to Actelis's portfolio of critical infrastructure projects, following successful deployments in Washington D.C., Seattle, and Ventura County.
The company's hybrid-fiber technology stands at the core of its success, enabling fiber-grade performance over existing infrastructure. This innovation not only offers substantial cost savings but also allows for faster project completion times. Such technological advancements have made Actelis a competitive player in various sectors, including transportation, defense, and critical infrastructure. The Orange County project is part of a series of recent wins for the company, including military base modernization orders and a contract with a major North American railway group to support Positive Train Control implementation.
Financially, Actelis has shown remarkable growth, with fiscal year 2024 revenue jumping 38% to $7.8 million. The company has also improved its gross margins from 34% to 55%, while reducing operating expenses by 13% and cutting loss per share by 67% to $0.85. Analyst Theodore O'Neill from Litchfield Hills Research has maintained a Buy rating for Actelis, with a price target of $5, highlighting the company's positive momentum. With the global smart cities market expected to grow to $300 billion by 2032 and the ITS segment projected to reach $65.33 billion, Actelis is well-positioned to take advantage of the increasing demand for infrastructure modernization. For more information on Actelis Networks and their projects, visit https://www.actelis.com.
